How to use ARRAYS in Pine Script V4 to calculate CORRELATION & COVARIANCE
Pine Script Mastery Course: https://courses.theartoftrading.com/c...
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Source Code: https://courses.theartoftrading.com/p...
Lesson Resources:
TradingView Array Blog: https://www.tradingview.com/blog/en/a...
TradingView Array Documentation: https://www.tradingview.com/pine-scri...
Array Diagram: https://media.geeksforgeeks.org/wp-co...
FIFO/Stack Diagram: https://4cawmi2va33i3w6dek1d7y1m-wpen...
Covariance Definition: https://www.investopedia.com/terms/c/...
Correlation Definition: https://www.investopedia.com/terms/c/...
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This lesson demonstrates how to use array functions in Pine Script to calculate the correlation coefficient (and covariance) of two different markets.
With over 15 years of coding experience and 4+ years of trading experience, I specialize in TradingView's Pine Script programming language and I'm here to pass on everything I've learned about both trading and coding.
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▼Timestamps▼
00:00 - Intro
04:30 - What Are Arrays?
06:35 - Get User Input
08:40 - Calculate % Change of Markets
12:55 - Declaring A Float Array
16:45 - FIFO vs Stack Arrays
17:57 - Adding Data to an Array
20:20 - What is Covariance?
21:10 - Calculating Array Covariance
24:56 - What is the Correlation Coefficient?
27:10 - Getting Array's Standard Deviation
28:19 - Calculating Array Correlation
29:33 - Summary & Analysis
35:08 - PineScriptMastery.com
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